IPO Details
RHP/DRHPIssue Date
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Investment/lot
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Price Range
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Lot Size
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IPO Size
N/A
Schedule of Sugs Lloyd IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
About Sugs Lloyd IPO
Sugs Lloyd Limited IPO is an IPO of TBA. The lot size is TBA. The price range is TBA. It consists of a fresh issue of up to 59,00,000 equity shares. The shares will be allotted on TBA. The credit of shares to the demat account will take place on TBA, and the initiation of refunds will take place on TBA.
Objective of Sugs Lloyd IPO
- To meet working capital requirements
Sugs Lloyd IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band (₹) | TBA |
Existing Shares to be Sold | -- |
Fresh Issue | Up to 59,00,000 Equity Shares |
EPS (₹) For the year ended March 31, 2024 | 6.45 |
Sugs Lloyd IPO Share offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs Share Offered | Not more than 50% |
Non-Institutional Investors (NIIs) | Not less than 15% |
Retail Individual Investors | Not less than 35% |
Industry Outlook
India’s energy demand is expected to increase more than that of any other country in the coming decades due to its sheer size and enormous potential for growth and development. India’s announcement that it intends to achieve net-zero carbon emissions by 2070 and to meet 50% of its electricity needs from renewable sources by 2030 marks a historic point in the global effort to combat climate change. As of March 2024, renewable energy sources, including biomass, waste to power and waste to energy, have a combined installed capacity of 143.64 GW. As of February 2024, 42.25% of the total power installed capacity is from non-fossil-based sources. India’s installed renewable energy capacity is expected to increase to about 170 GW by March 2025 from the level of 135 GW as of December 2023, according to research agency ICRA.
The engineering sector is the largest of the industrial sectors in India. It accounts for 27% of the total factories in the industrial sector, and represents 63% of the overall foreign collaborations. The Ministry of Heavy Industries (MHI) is implementing the scheme for ‘Enhancement of Competitiveness in the Indian Capital Goods Sector Phase 2’ in order to facilitate the adoption of Industry 4.0 and promote investments in the manufacturing sector, indigenisation of technologies, and creation or augmentation of common service infrastructure and testing facilities. ₹250 crores has been allocated under this scheme for the financial year 2023-24.
Company Information
Sugs Lloyd Limited operates in the renewable energy sector, with a primary focus on solar energy, electrical transmission and distribution, and civil EPC (Engineering, Procurement, and Construction) projects. They provide a wide range of services, including the development of power transmission and distribution infrastructure, construction of power substations, and the renovation, upgrading, and modification of existing power systems. Additionally, they also engage in providing solutions for Outage Management Solutions (OMS) using fault passage indicators, auto reclosers, and sectionalises to various electricity DISCOMs (Distribution Companies). In the civil construction domain, they offer turnkey solutions for civil building construction and electrical substation work, particularly for government clients, with a strong emphasis on serving power DISCOMs. Their company also provides skilled manpower and staffing services to government organisations, specifically power DISCOMs, ensuring the efficient operation and maintenance of energy infrastructure.
Strengths of Sugs Lloyd IPO
Quality assurance and standards.
They believe in providing their customers with quality services and are ISO certified. The quality standards followed from the outset are very stringent and are adhered to during the service and assembly processes.
Existing client relationship
They have earned a reputation based on which they have been successful in retaining clients. Their existing customer relationships help them secure repeat business. This has enabled them to maintain long-term working relationships and improve their customer retention strategy.
Scalable business model.
Their business model comprises the optimum utilisation of existing resources, developing linkages with the expertise of their development team, and achieving consequent client satisfaction. They believe that this business model has proved successful and scalable for them in recent financial years.
Risks of Sugs Lloyd IPO
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The construction, operation, and maintenance of their transmission systems involve significant risks that may cause injury to people or property and may lead to significant disruption to their business and consequently decrease in their revenues.
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Too much concentration of their business is from sales to government, which may impact their business.
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The company is dependent on a few suppliers for the purchase of products. Loss of any of these large suppliers may affect their business operations.
Sugs Lloyd IPO Financials
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Peers Comparison
| Parameter | Sugs Lloyd Limited | Rulka Electricals Limited2 | Ganesh Green Energy Limited |
|---|---|---|---|
Revenue from operations for the year ended March 31, 2024 (₹ in crores) | 65.12 | 70.97 | 170.17 |
P/E | -- | 25* | 38.5* |
EPS (Diluted) (₹) | 6.45** | 17.99 | 10.92 |
Return on Net Worth (%) | 47.95% | 45.92% | 34.72% |
NAV per share (₹) | 13.46** | 38.95 | 31.46 |
*As at September 30 2024.
** Number of shares are adjusted by Increase in Capital through issue of Bonus shares on September 30, 2024 in the ratio of 2:3 i.e., 2 (Two) Equity Shares for every 3 (Three) Equity Share held.
IPO Registrar and Book Running Lead Managers
Book running lead managers:
3Dimension Capital Services Limited
Registrar for the IPO is KFin Technologies Limited
Business Model
The company earns its revenue through the following sources:
- They provide a wide range of services, including the development of power transmission and distribution infrastructure, the construction of power substations, and the renovation, upgrading, and modification of existing power systems.
- They also engage in providing solutions for Outage Management Solutions (OMS) using fault passage indicators, auto reclosers, and sectionalises to various electricity DISCOMs (Distribution Companies).
- They offer turnkey solutions for civil building construction and electrical substation work, particularly for government clients, with a strong emphasis on serving power DISCOMs.
Company Growth Trajectory
For the period that ended on 30 June 2024, the company’s total income and restated profit after tax were ₹26.32 crore and ₹3.53 crore, respectively. For the year that ended on 31 March 2024, these were ₹68.75 crore and ₹10.48 crore, and for the year that ended on 31 March 2023, the company’s total income and restated profit after tax were ₹36.36 crore and ₹2.29 crore. For the year that ended 31 March 2022, the company’s total income and restated profit after tax were ₹23.29 crore and ₹2.20 crore.
Company Market Position
Their company deals with state government power utilities, private power entities, and renewable energy developers. Their clients include Tata Power Limited, Madhyanchal Vidyut Vitran Nigam Limited (MVVNL), Punjab State Power Corporation Limited (PSPCL), Punjab Energy Development Agency (PEDA), Maharashtra State Power Generation Co. Ltd. (MSPGCL), Adani Green Energy Limited, Indian Oil Corporation, Indraprastha Gas Limited, BREDA (Bihar Renewable Energy Development Agency), IIT Kanpur, Eastern Railway and Western Railway, Delhi Police Housing Construction Corporation Limited, TP Southern Odisha Distribution Limited (TPSODL), and many other renowned clients. They have also entered into service agreements with these clients.
SUGS was awarded “Emerging Solar EPC of the Year” at the “Rajasthan Sustainable Renewable Revolution” event, organised by A and A Media Group, for exceptional growth, innovation, and excellence in delivering solar projects across India.
Sugs Lloyd Company Profit & Loss
| Parameter | FY22 | FY23 | FY24 |
|---|---|---|---|
Revenue from operations (₹ crores) | 22.76 | 35.78 | 65.12 |
Profit Before Tax (₹ crores ) | 3.40 | 3.21 | 13.51 |
Net profit / (loss) (₹ crores) | 2.19 | 2.29 | 10.48 |
EBITDA (₹ crores) | 3.00 | 4.10 | 10.96 |
EPS (₹) | 1.66 | 1.59 | 06.45 |
Sugs Lloyd Company Profit & Loss
| Parameter | FY22 | FY23 | FY24 |
|---|---|---|---|
Profit before tax (₹crores) | 3.40 | 3.11 | 13.51 |
Net Cash from Operating Activities (₹ crores) | (3.83) | (10.42) | (4.27) |
Net Cash from Investing Activities (₹ crores) | 2.77 | (0.42) | (3.98) |
Net Cash from Financing Activities (₹ crores) | (0.06) | 11.18 | 9.29 |
Cash and Cash Equivalents (₹ crores) | 0.44 | 0.78 | 1.81 |
How To Check Allotment Status of Sugs Lloyd IPO?
You can check the allotment status of shares either on the website of the Bomaby Stock Exchange (BSE) or on the website of the registrar KFin Technologies Limited. To check the status on the BSE website:
- Visit the BSE website
- Click on “Investor Services” and choose “Application Status Check”
- Choose the issue type — Equity or Debt (Equity in this case)
- Select the Issue Name from the drop-down. The issue name is the company’s name, which is Sugs Lloyd Limited
- Enter your application number or PAN number
- Check the box which says “I’m not a Robot” and click on “Search” to know the allotment status
Follow these steps to know the allotment status on the registrar’s website:
- Visit the KFin Technologies Limited website
- Choose “Public Issues” from the “Investor Services” drop-down
- Select Sugs Lloyd Limited from the drop-down
- Enter your PAN number or Application number
- Click on “Submit” to know the allotment status
How To Apply for Sugs Lloyd IPO?
- Step 1: Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Step 2: Specify IPO details: Enter the number of lots and the price you wish to apply for.
- Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
- Step 4: Mandate Notification: Your UPI app will receive a mandate notification to block funds.
- Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Sugs Lloyd IPO FAQs
Where can I read more about Sugs Lloyd business?
You can read more about Sugs Lloyd and its IPO from the company’s red herring prospectus (RHP) here.
What is the Sugs Lloyd IPO?
The Sugs Lloyd Limited IPO has an issue size of TBA. The IPO opens for subscription on TBA and closes on TBA.
Who is the Registrar for Sugs Lloyd IPO?
KFin Technologies Limited is the registrar for this IPO.
